First Citizens Bank & Trust Co. cut its stake in City Holding Company (NASDAQ:CHCO) by 25.4% during the third quarter, Holdings Channel reports. The firm owned 6,036 shares of the company’s stock after selling 2,052 shares during the period. First Citizens Bank & Trust Co.’s holdings in City Holding Company were worth $304,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in City Holding Company by 100.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,663 shares of the company’s stock valued at $212,000 after buying an additional 2,341 shares during the period. Capstone Asset Management Co. raised its stake in City Holding Company by 13.0% in the second quarter. Capstone Asset Management Co. now owns 4,773 shares of the company’s stock valued at $217,000 after buying an additional 550 shares during the period. Swiss National Bank raised its stake in City Holding Company by 2.5% in the second quarter. Swiss National Bank now owns 24,900 shares of the company’s stock valued at $1,132,000 after buying an additional 600 shares during the period. Emerald Acquisition Ltd. bought a new stake in City Holding Company during the second quarter valued at $135,000. Finally, GSA Capital Partners LLP bought a new stake in City Holding Company during the second quarter valued at $387,000. Hedge funds and other institutional investors own 60.80% of the company’s stock.
Shares of City Holding Company (NASDAQ:CHCO) traded up 1.05% on Wednesday, hitting $64.44. The stock has a market cap of $967.05 million, a price-to-earnings ratio of 19.17 and a beta of 0.83. The company’s 50-day moving average price is $66.27 and its 200-day moving average price is $54.32. City Holding Company has a 1-year low of $40.74 and a 1-year high of $69.09.
City Holding Company (NASDAQ:CHCO) last posted its quarterly earnings data on Monday, October 24th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.09. City Holding Company had a return on equity of 11.96% and a net margin of 26.90%. During the same quarter in the prior year, the firm earned $0.69 earnings per share. On average, analysts predict that City Holding Company will post $3.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 13th will be issued a dividend of $0.43 per share. The ex-dividend date is Wednesday, January 11th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.67%. City Holding Company’s payout ratio is presently 51.04%.
Separately, Zacks Investment Research upgraded City Holding Company from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Wednesday, October 26th.
In related news, EVP Craig G. Stilwell sold 5,000 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the transaction, the executive vice president now directly owns 37,929 shares in the company, valued at $2,275,740. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John A. Derito sold 5,500 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $56.60, for a total value of $311,300.00. Following the transaction, the executive vice president now owns 25,803 shares of the company’s stock, valued at $1,460,449.80. The disclosure for this sale can be found here. Corporate insiders own 4.11% of the company’s stock.
About City Holding Company
City Holding Company is a financial holding company. The Company conducts its principal activities through its subsidiary, City National Bank of West Virginia (City National). City National provides banking, trust and investment management and other financial solutions through its network of approximately 85 banking offices located in the states of West Virginia, Virginia, eastern Kentucky and southeastern Ohio.
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